Less than two years. That’s the time it took BC Craft Supply Co (CSE: CRFT) to blow up its share structure, yet again. The company late last night announced that it would be consolidating its share structure, after having conducted the same move just last year.
The company last night indicated that it will be conducting a reverse split to the tune of one post-consolidation share for every hundred pre-consolidation shares owned by shareholders. The end result is that the firms shares outstanding will be reduced down to just 2.3 million.
Confusingly, the company has indicated that its consolidation will be effective as of December 24, with shares to trade on a post-share consolidation basis as of market open on December 23, 2021.
The consolidation is reprotedly being conducted as a means of making BC Craft Supply “more attractive to financing opportunities,” as well as to assist in settling certain liabilities that remain outstanding. The firm notably has conducted this process in the pass, when in back in May of 2020 we noted that they were blowing out their share structure just months after conducting a 1 for 12 consolidation in March.
BC Craft Supply Co last traded at $0.01 on the CSE.
Information for this briefing was found via Sedar and BC Craft Supply Co. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
